MATHESON acquires Linde's divested US HyCO business

MATHESON, a wholly owned subsidiary of TNSC Group, has completed its acquisition of Linde’s divested HyCO business in the US.

HyCO plant in Hungary

Source: Linde

The US Federal Trade Commission approved MATHESON as the buyer of the divested HyCO business on February 27 (2019) after it became available as a result of the Linde-Praxair merger.

HyCO represents hydrogen (H2) and carbon monoxide (CO) which are separated from natural gas and other gases through Stem Methane Reforming (SMR) and other equipment. The HyCO business provides large-scale supply of H2 and CO to customers in oil refining and petrochemical industries by way of a pipeline.

The HyCO business includes a Remote Operations Center in LaPorte, Texas, that supports HyCO plants in Alabama, Illinois, Ohio, Washington and pipeline customers near the Houston Ship Channel.

The addition expands MATHESON’s capabilities to serve the petrochemical and refining industry.

“As is always the case, the real value is in the people we are gaining that run the business. The HyCO Team joining MATHESON are industry veterans who are highly experienced and bring world class business development and operations know-how.”

MATHESON, which has headquarters in New Jersey, is the largest subsidiary of Japan-based TAIYO NIPPON SANSO CORPORATION Group, one of the four largest suppliers of industrial, specialty, and electronics gases in the world.

HyCO is an industry term covering the production of H2, CO, or syngas, which is a mixture of H2, CO and carbon dioxide.

The Messer Group has confirmed its joint venture with CVC Capital Partners has acquired the majority of Linde’s gases business in North America and certain Linde and Praxair business activities in South America.

‘Whirlwind’ perfectly summed up the crossover week of February into March 2019 as a raft of M&A announcements ramped up throughout the week and essenially culminate in a new complexion on the global gases business.

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